WASHINGTON (AP) — With just two days to spare, President Joe Biden signed legislation on Saturday that lifts the nation's debt ceiling, averting an unprecedented default on the federal government's debt.

It was a decidedly low-key denouement to a monthslong drama that unnerved financial markets at home and abroad and caused anxious retirees and social service organizations to make contingency plans in case the country was unable to pay all its bills.

Instead of holding a public ceremony with lawmakers from both parties — showcasing the bipartisanship that Biden had cited in an Oval Office addr...